Turkish Central Bank
Central Bank net reserves may turn positive: Goldman Sachs
The Turkish Central Bank's net reserves are likely to turn positive in 2024, according to analysts at Goldman Sachs.
In a note on the Central Bank's latest rate decision, Goldman Sachs said that it expects rising foreign inflows and a narrower current account deficit to pull the rate of Turkish Lira appreciation further inside the forwards in 2024.
Eyes will be on new Central Bank chief, inflation report
Eyes will be on Fatih Karahan, who took the helm of the Turkish Central Bank last week, as he is set to present the banks' first quarterly inflation report of 2024 on Feb. 8.
Central Bank’s reserves reach new record level
The latest data have shown that the Turkish Central Bank's gross reserves have climbed to a new all-time high.
The bank's gross reserves increased from $136.5 billion on Nov. 24 to $140.2 billion on Dec. 1.
Foreign currency reserves rose from $91 billion to $93.2 billion, while gold reserves climbed from $45.5 billion to $46.9 billion.
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The Turkish Central Bank has shockingly raised Interest Rates
The Turkish central bank announced today a surprisingly large increase in its main interest rate - by 7 and a half percentage points to 25 percent.
Increase in net reserves encouraging, says Şimşek
The Turkish Central Bank's international reserves rose from $98.5 billion on May 26 to $108.6 billion on June 30, while the net reserves improved by $14.2 billion over the same period, Treasury and Finance Minister Mehmet Şimşek said on July 11.
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The Turkish Lira hit a New Record Low
The Turkish lira, which fell today by more than five percent, hit a new historic low against the dollar ten days after the re-election of President Recep Tayyip Erdogan, reported AFP.
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Annual inflation eases for sixth consecutive month
Falling for a sixth consecutive month, Türkiye's annual consumer inflation rate slowed to a 16-month low of 43.68 percent in April, according to official data released yesterday.
April's figure, announced by the Turkish Statistical Institute (TÜİK), was down from 50.51 percent in March.
The inflation rate was 69.97 percent in April 2022.
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Central Bank keeps interest rate stable at 8.5 percent
The Turkish Central Bank on April 27 held its interest rate at 8.5 percent in its Monetary Policy Committee's (MPC) meeting.
Erdogan’s AKP party signals return to more orthodox economic policies in draft election manifesto, sources say
The draft election manifesto of Turkish President Tayyip Erdogan's AK Party marks a return to more orthodox, free market economic policies, four sources familiar with the matter told Reuters.
Turkey is due to hold presidential and parliamentary elections on May 14 and opinion polls show that Erdogan will face his biggest electoral challenge yet in his two decades in power.
Saudi Arabia makes a $5 bln deposit at Central Bank
The Saudi Fund for Development (SFD) and the Turkish Central Bank have signed an agreement for the SFD to make a 5$5 billion deposit in the bank.